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Newmark Grubb Knight Frank (NGKF) announces the long-term lease for Quest Workspaces (Quest) for 22,000 square feet at 150 S. Pine Island Road in Plantation, Florida, a Class A suburban office building. The transaction, which was valued at more than $4.9 million, represents another expansion for Quest, which provides flexible workspace solutions in coworking and shared office space throughout southern Florida, in New York City, and other locations nationally.
Executive Managing Director Lance Benson represented Quest in the transaction, which represents its ninth location totaling over 169,000 square feet in South Florida alone. The Quest Workspaces’ Plantation Center will feature a wide-range of workspace options, from open plan coworking space to private offices and team rooms. Other perks and features include, brainstorming rooms, a walking treadmill and relaxation rooms.
“Multi-national companies as well as local and regional firms continue to incorporate flexible office solutions and coworking into their portfolio, and Quest provides a turnkey solution for establishing a high-profile presence in this market,” Benson said.
Coworking has become ubiquitous over the last five years. According to a report from the Commercial Real Estate Development Association, the number of coworking spaces in America has gone from one to 781 since 2005. That trend isn’t showing any signs of slowing down; from 2012 to 2013 that number increased 83 percent in coworking spaces worldwide, while coworking memberships increased 117 percent in that time.
Laura Kozelouzek, president and chief executive officer of Quest Workspaces added: “The central location and area amenities were key factors in selecting 150 South Pine Island Road. Plantation is the home to many multinational corporations including American Express, DHL, and Magic Leap. Our clients recognize the value in choosing this type of thriving environment for office space, whether it be for full-time offices, coworking or occasional meeting rooms. Clients using Plantation will also receive reciprocal benefits at our downtown Ft. Lauderdale location.”
About Quest Workspaces
Recipient of the 2015 and 2016 South Florida Business Journal’s “Best Places to Work” award, Quest Workspaces provides flexible and affordable workspace solutions to support companies of all sizes and stages. Quest offers move-in ready, executive office suites, virtual offices for home-based and mobile workers and conference/meeting rooms for hourly and daily rental. Quest features nine, state-of-the-art executive centers including: the Espirito Santo Plaza in the heart of downtown Brickell, 1200 Building in Boca Raton, 2525 Ponce de Leon in Coral Gables, the 101 Tower in downtown Fort Lauderdale and the Time Life Building at 1271 Avenue of the Americas in New York City. For more information, please call 1.800.268.1051 or visit www.questworkspaces.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.